Jul 07, 2008

Component Hardware Group Acquires CHG-Europe

Company is now positioned for growth in the European market

Component Hardware Group (CHG), a manufacturer of premium plumbing and hardware products for commercial, foodservice, institutional and healthcare applications, has announced the purchase of CHG-Europe in Almere, Netherlands. Previously a joint venture between CHG and one of its international distributors, CHG-Europe is now wholly owned and controlled by Component Hardware Group, Inc., headquartered in Lakewood, N.J.

“We felt that completing the acquisition of CHG-Europe was timely, given the slowing economic conditions domestically,” said Tom Carr, president of CHG. “This purchase will allow us to streamline efficiencies within our organization and better position our company for growth opportunities on the European continent, as well as other international markets.”

The acquisition of CHG-Europe gives CHG a prime sales and distribution point that is strategically located in Europe.

CHG recently engaged the services of Jaap van Ginneken as managing director to oversee the new CHG-Europe operation, while Ted Wayenburg will continue in his current role as CHG Europe’s inside sales liaison.

“We want to assure our customers that they can continue to rely on us for the high level of service and quality that they have come to know and trust over the years,” Carr said. “We have put together a strong management team to oversee our new European operations and look forward to growing our presence in that market.”